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Copper futures fall 0.84 pc as speculators trim positions

Press Trust of India  |  New Delhi 

Copper futures traded 0.84 per cent lower at Rs 387.45 per kg today as speculators offloaded bets amid a weak trend overseas.

Furthermore, subdued demand at domestic spot market pushed down metal prices.

At the Multi Commodity Exchange, copper for delivery in April shed Rs 3.30, or 0.84 per cent, to Rs 387.45 per kg, in a business turnover of 1,229 lots.

Also, metal for delivery in June was trading down Rs 3, or 0.76 per cent, at Rs 391.45 per kg in 19 lots.

Analysts attributed the fall to offloading of positions by participants amid muted demand at the domestic spot markets.

Besides,a weak trend in the base metals at the Metal Exchange weighed on sentiments, they added.

Meanwhile, copper gained 0.7 per cent per tonne at the LME.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, March 20 2017. 11:07 IST